Qimonda settles with U.S. subsidiaries

SAN FRANCISCO—German chip maker Qimonda AG said Monday (Oct. 25) its insolvency administrator has reached a settlement with Qimonda's U.S. subsidiaries, giving the parent company the right to over 800 patents and patent applications, according to a Dow Jones report.

Under the terms of the settlement, Qimonda's U.S. subsidiaries, Qimonda North America Corp. and Qimonda Richmond LLC, acknowledged the parent company's ownership of the patents and patent applications and abandoned claims of over $2.1 billion against Qimonda AG, according to the report.

Qimonda also reached an agreement to settle claims of more than $1.7 billion against its U.S. subsidiaries, according to the report. The settlement also covers the subsidiaries' action against the parent company in the U.S. bankruptcy court in Delaware, the report said.